JPMB vs. PCY
Compare and contrast key facts about JPMorgan USD Emerging Markets Sovereign Bond ETF (JPMB) and Invesco Emerging Markets Sovereign Debt ETF (PCY).
JPMB and PCY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. JPMB is a passively managed fund by JPMorgan that tracks the performance of the J.P. Morgan Emerging Markets Risk-Aware Bond Index. It was launched on Jan 29, 2018. PCY is a passively managed fund by Invesco that tracks the performance of the DB Emerging Market USD Liquid Balanced Index. It was launched on Oct 11, 2007. Both JPMB and PCY are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
JPMB vs. PCY - Performance Comparison
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JPMB vs. PCY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
JPMB JPMorgan USD Emerging Markets Sovereign Bond ETF | -1.85% | 13.73% | 1.46% | 9.48% | -16.05% | -2.26% | 5.36% | 17.71% | -4.72% |
PCY Invesco Emerging Markets Sovereign Debt ETF | -2.08% | 16.31% | 2.55% | 18.48% | -24.47% | -4.30% | 2.29% | 17.66% | -5.42% |
Returns By Period
In the year-to-date period, JPMB achieves a -1.85% return, which is significantly higher than PCY's -2.08% return.
JPMB
- 1D
- 1.03%
- 1M
- -3.52%
- YTD
- -1.85%
- 6M
- 0.04%
- 1Y
- 8.34%
- 3Y*
- 6.53%
- 5Y*
- 1.31%
- 10Y*
- —
PCY
- 1D
- 1.26%
- 1M
- -4.45%
- YTD
- -2.08%
- 6M
- -0.18%
- 1Y
- 10.11%
- 3Y*
- 9.85%
- 5Y*
- 1.10%
- 10Y*
- 2.50%
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JPMB vs. PCY - Expense Ratio Comparison
JPMB has a 0.39% expense ratio, which is lower than PCY's 0.50% expense ratio.
Return for Risk
JPMB vs. PCY — Risk / Return Rank
JPMB
PCY
JPMB vs. PCY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan USD Emerging Markets Sovereign Bond ETF (JPMB) and Invesco Emerging Markets Sovereign Debt ETF (PCY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| JPMB | PCY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.27 | 0.99 | +0.27 |
Sortino ratioReturn per unit of downside risk | 1.80 | 1.42 | +0.38 |
Omega ratioGain probability vs. loss probability | 1.27 | 1.21 | +0.06 |
Calmar ratioReturn relative to maximum drawdown | 1.89 | 1.68 | +0.21 |
Martin ratioReturn relative to average drawdown | 7.38 | 6.20 | +1.18 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| JPMB | PCY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.27 | 0.99 | +0.27 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.15 | 0.08 | +0.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.19 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.24 | 0.28 | -0.05 |
Correlation
The correlation between JPMB and PCY is 0.88, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
JPMB vs. PCY - Dividend Comparison
JPMB's dividend yield for the trailing twelve months is around 6.24%, more than PCY's 6.08% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JPMB JPMorgan USD Emerging Markets Sovereign Bond ETF | 6.24% | 6.71% | 6.32% | 5.99% | 4.94% | 4.29% | 4.29% | 4.51% | 4.58% | 0.00% | 0.00% | 0.00% |
PCY Invesco Emerging Markets Sovereign Debt ETF | 6.08% | 5.93% | 6.65% | 6.48% | 6.81% | 4.80% | 4.45% | 4.78% | 4.93% | 4.80% | 5.19% | 5.46% |
Drawdowns
JPMB vs. PCY - Drawdown Comparison
The maximum JPMB drawdown since its inception was -26.33%, smaller than the maximum PCY drawdown of -49.13%. Use the drawdown chart below to compare losses from any high point for JPMB and PCY.
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Drawdown Indicators
| JPMB | PCY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.33% | -49.13% | +22.80% |
Max Drawdown (1Y)Largest decline over 1 year | -4.61% | -6.37% | +1.76% |
Max Drawdown (5Y)Largest decline over 5 years | -26.16% | -37.17% | +11.01% |
Max Drawdown (10Y)Largest decline over 10 years | — | -37.78% | — |
Current DrawdownCurrent decline from peak | -3.52% | -4.49% | +0.97% |
Average DrawdownAverage peak-to-trough decline | -7.19% | -7.03% | -0.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.18% | 1.73% | -0.55% |
Volatility
JPMB vs. PCY - Volatility Comparison
The current volatility for JPMorgan USD Emerging Markets Sovereign Bond ETF (JPMB) is 3.02%, while Invesco Emerging Markets Sovereign Debt ETF (PCY) has a volatility of 3.99%. This indicates that JPMB experiences smaller price fluctuations and is considered to be less risky than PCY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JPMB | PCY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.02% | 3.99% | -0.97% |
Volatility (6M)Calculated over the trailing 6-month period | 3.78% | 5.34% | -1.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.61% | 10.22% | -3.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.93% | 13.16% | -4.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.71% | 12.92% | -3.21% |